SEOUL, Nov. 3 (Korea Bizwire) — Sales of imported vehicles in South Korea fell 23 percent in October from a year earlier as a global chip shortage caused a lack of supplies, an industry association said Wednesday. The number of newly registered foreign vehicles fell to 18,764 units last month from 24,257 a year ago, [...]
SEOUL, Nov. 3 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Wednesday their combined sales in the United States fell 4.1 percent last month from a year earlier due to a lack of semiconductor parts. Hyundai and Kia sold 108,828 vehicles in the world’s most important automobile market in October from [...]
SEOUL, Nov. 2 (Korea Bizwire) – Samsung SDI Co., a South Korean battery maker, said Tuesday its third-quarter net profit jumped 74.7 percent from a year earlier backed by robust sales in electric vehicle (EV) batteries. Net income reached 420.4 billion won (US$357.6 million) in the July-September period, compared with 240.6 billion won from a [...]
SEOUL, Nov. 2 (Korea Bizwire) — South Korean internet-only banks said Tuesday their third-quarter profits sharply increased on robust growth in customers and deposits. K-Bank, controlled by a consortium of telecom giant KT Corp., Woori Bank and 19 other companies, saw its third-quarter earnings more than double from three months earlier. Net profit came to [...]
SEOUL, Nov. 2 (Korea Bizwire) — Hyundai Motor Co., South Korea’s top automaker, said Tuesday its annual sales of eco-friendly vehicles will likely exceed 100,000 units this month amid their growing popularity here. It would mark the first time that Hyundai’s annual sales of green vehicles have surpassed the 100,000-unit level. The projection comes as [...]
SEOUL, Oct. 29 (Korea Bizwire) — SK Innovation Co. said Friday it turned to the black in the third quarter from a year earlier on strong sales in its lubricant oil and battery businesses amid reviving demand after a pandemic-driven slump. The energy and chemical subsidiary of SK Group, South Korea’s No. 3 conglomerate, reported [...]
SEOUL, Oct. 28 (Korea Bizwire) — LG Electronics Inc. said Thursday its net profit dropped 20.4 percent on-year in the third quarter due to costs incurred in a recall of General Motor’s Bolt electric vehicles. The South Korean tech giant said in a regulatory filing that net income came to 516.5 billion won (US$440 million) [...]
SEOUL, Oct. 28 (Korea Bizwire) — Samsung Electronics Co. on Thursday reported strong third-quarter earnings on the continued robust performance of its key semiconductor business, which took up 64 percent of the total operating profit. Its net profit rose 31.3 percent from a year earlier to 12.29 trillion won (US$10.5 billion) in the July-September period, [...]
SEOUL, Oct. 27 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Wednesday its third-quarter net profit rose sharply due to a lack of one-off costs, but chip shortages remain a major concern for the carmaker. Net profit for the three months ended in September jumped more than eightfold to 1.135 trillion won (US$970 [...]
SEOUL, Oct. 27 (Korea Bizwire) — LG Display Co., South Korea’s major display panel maker, said Wednesday that its third-quarter net income surged 4,067.5 percent from a year earlier to 463.5 billion won (US$396.1 million), largely driven by strong demand and profitability of its OLED business. Operating income jumped 221.8 percent to 528.9 billion won [...]